Wholesaler Guide
How to create outstanding B2B experiences
Chris Green, marketing director UK&I at Schneider Electric, shares his insights into the evolving expectations of business consumers.
U
ntil recently, B2B and B2C customers were oſten treated to wildly different experiences. While B2C shoppers enjoyed the latest technologies and trends, from self-checkouts to virtual fitting rooms and same-day delivery, B2B still relied on traditional trading methods - partner-client liaison and sealing deals with a signature and a handshake. However, times have changed. B2B buyers now expect the same customer experiences they receive from B2C companies. They want convenience and the freedom to purchase goods and services digitally, 24/7, where pricing is more transparent and delivered via a frictionless buying process. In fact, recent research reveals 90% of buyers now expect a similar shopping experience on a B2B website as they do on a B2C website.
26 | electrical wholesalerJune 2023
So, what’s changed? And how can B2B businesses meet these soaring modern expectations? Let’s take a look.
The convergence of B2B and B2C The pressure for B2B companies to enable online ordering, and raise their experiences to B2C standards, was amplified by the pandemic, as digital temporarily became the only way to access certain products and services. 43% of B2B buyers switched suppliers during COVID- 19 simply because their supplier had no online ordering available. And before the pandemic, 44% of buyers said they would purchase directly from a sales representative, but this fell dramatically to just 16% post-lockdown. Simultaneously, millennials and Gen Z are forming a large, influential portion of the wider
workforce. 73% of millennial workers are now involved in product or service decision-making within their companies; these digital natives no longer expect the same level of face-to- face interaction and account management that historically has been paramount in B2B. B2B buyers are also increasingly self-educated, turning to online sources for product information. Now, more than two-thirds of buyers say they prefer remote human interactions or digital self- service. Gartner forecasts that by 2025, 80% of B2B sales interactions between buyers and suppliers will take place on digital channels, with a third of all buyers, and approaching half (44%) of millennials, already indicating a preference for a seller-free sales experience. So, B2B businesses must begin harnessing new strategies and technologies to meet these new customer expectations.
ewnews.co.uk
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